Omaha daily bee., 1887-06-02
JUNE WHEAT SCARS HIGHER.
The Shorts Become Very Anxious and Bid
the Market Up,
A CLIQUE HOUSES BIG SALES.
Deliveries of Wheat Lighter Than
Was Expected-Corn Fairly Ao-
tive and Highcr-Oats Firmer
Market Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, June 1.-TSpecal Telegram to
the BEE. June wheat scared to 9ll4c this
morning and then settled back to ss1&c, and
rested at SOC at o'clock. The opening trades
were at 90l5c, an advance of 1s6c oyer night.
Anxious shorts bid the market up to W4c,
and there were trades at 9l1fc, but the Official
reporters failed to catch them. Irwin, Green
IL Co. were sellers from the very opening,
and on the bulge got rid of great deal OF
grain. They sold on the advance and they
kept selling on the decline, following the
market down to Ss16c. That figure proved to
be the bottom, and 1t was reached not far
from II o'cuck, The market then lirmed up
to s916c. Thereafter, until l o'clock, the
price of June ranged between S91sc and Ss%c,
resting at SOC. Irwin, Green Il Co. are sup
posed to have sold nearly 100000 bushels,
for nearly oil of which they found pur-
chasers above SOC. August ranged at $500
S31Gc and rested on the bottom. Later fl-
lures were dull, with a tendency downward.
AS compared with yesterdays closing, the
/ o'clock range shows a gain in June ana
Jnly of 14Q636c. The new crop futures re-
main practically unchanged. The volume OF
transactions was large and the market was
very nervous. When the clique house above
mentioned began parting with portion OIL
Its June holdings, the crowd went at July In
perfect frenzy. The speculative offerings
OF that delivery were enormous, but the mar
ket held remarkably steady, breaking only
&c from the extreme top. The deliveries OF
wheat on June contracts were lighter than
expected. Considerable grain drifted in upon
clique houses yesterday and this morning.
They were prepared to take and pay Tor
every bushel in Chicago warehouses. Irwin,
Green d Co. got some, Rosenteld M " 90. got
l.xsI hItG a
landed with Kershaw Il Co, One
house (not a clique firm which had
100000 bushels coming only got
10000 bushels. Another. which had 800 GOO
bushels coming, only received 1000 bushels.
A good deal of wheat delivered went "cross
lots" to Kershaw. The receiving houses. as
a rule, had more wheat going than coming,
and numerous little lots started from these
sources Armour is understood to have de-
livered out large amount The clique ap-
peared to have more money than there was
use for, and judging from appearances 1t is
moderately ntependent q % .he iocsl 0anks
floating around to-day. 1t is literally drug
on the market. Gables were quiet, and with
the exception of st. Louis the outside
onansss aIhs.s We're sa aer e @ resa Of Prize thee
Northwestern and the st. Paul roads to ac
cept more wheat for Chicago just now on the
plea of want of storage is significant. 1t
is pretty good evidence that the
with the railroads as with the wheat shorts.
If this is Standard Oil crowd bulling
wheat, as seems altogether probable, 1t Is to
be remembered that Rockefeller, Flager, and
two or three others of them are railroad dl-
rectors.
Corn deliveries on maturing June con-
tracts were only moderate today, and they
were mostly by Hutchinson. The speculat-
i've market was fairly active and stronger,
all of the leading futures closing at O'Clock
at the highest prices of the regular session,
and s6Cg11c above yesterdays latest bids.
Seller July opened at 304c, touched 39ssc,
then eased Off to 39ssc, and just before the
close improved sharply to 391sc, while Au-
gust sold up from 401lc TO 4lc. Seller June
closed at 371sc.
Oats were firmer in sympathy with corn,
prices for leading futures showing an ad-
vance during the regular session of &C. June
closed at 25ss 9251sc, July at 26ss 92Gs4c, and
August at 261c, which were the outside quo
tations established.
In the provision market the opening OF the
new month failed to- stimulate business
better supported than lard, and at l O'clock
were l2IfQ17I<c higher than last nights
closing. Lard was also advanced 2Hc. Pork
was quoted at S23.OO for June, decline of
SOC.
AFTERNOON SEssION-.Wheat was un.
settled. June S9lsc, July s6ss@S6l5c, Aug
ust S3lGc. Corn 371S93sc for June, July 1890
bid, August 4lc bid. Oats opened firmeI
but closed steady. Pork was neglected and
nominal. June was quoted at S23.00 Lard
was 21Sc higher. June closed at S64216, July
at $6.65, August at $6G5. Short ribs were
steady.